Great Lakes Advisors LLC Invests $1.14 Million in CBIZ, Inc. $CBZ

Great Lakes Advisors LLC bought a new stake in CBIZ, Inc. (NYSE:CBZ) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 35,586 shares of the business services provider’s stock, valued at approximately $1,142,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in CBIZ by 17.8% during the first quarter. Bank of New York Mellon Corp now owns 166,787 shares of the business services provider’s stock worth $4,478,000 after purchasing an additional 25,214 shares during the last quarter. Quantinno Capital Management LP grew its stake in CBIZ by 543.8% in the 1st quarter. Quantinno Capital Management LP now owns 175,005 shares of the business services provider’s stock valued at $4,699,000 after purchasing an additional 147,820 shares during the period. Edgestream Partners L.P. bought a new position in CBIZ in the 1st quarter valued at $3,611,000. Citizens Financial Group Inc. RI bought a new position in CBIZ in the 2nd quarter valued at $639,000. Finally, Summit Creek Advisors LLC purchased a new stake in shares of CBIZ during the 2nd quarter valued at $3,964,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CBZ shares. Barrington Research began coverage on CBIZ in a research note on Wednesday, June 24th. They set an “outperform” rating and a $45.00 target price on the stock. Stephens set a $37.00 price target on shares of CBIZ in a research report on Friday, May 1st. Weiss Ratings upgraded shares of CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $42.00 price objective on shares of CBIZ in a report on Thursday, April 30th. Finally, CJS Securities lowered shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price objective on the stock. in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.50.

CBIZ Price Performance

Shares of NYSE CBZ opened at $54.70 on Friday. The stock has a fifty day simple moving average of $43.16 and a two-hundred day simple moving average of $34.69. CBIZ, Inc. has a 1-year low of $24.29 and a 1-year high of $67.24. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 1.15 and a beta of 0.93. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.74.

CBIZ (NYSE:CBZ) last released its earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The business had revenue of $682.21 million during the quarter, compared to the consensus estimate of $697.96 million. During the same period last year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. Analysts anticipate that CBIZ, Inc. will post 4.1 earnings per share for the current year.

About CBIZ

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.